Economic and real estate dynamics: periodization of macro-determinants in the 2000s and 2010s

Abstract

The purpose of this article is to propose a periodization of the macro-determinants of real estate development in Brazil in the 2000s and 2010s. This exercise seeks to articulate the macroeconomic, sectoral and institutional dimensions and organize variables that help in the interpretation of the economic phenomena that influence space production. The analyzed periods are: 2003-2008, of acceleration and structural change in the real estate market; 2009-2011, the peak of the real estate sector, especially due to countercyclical policies; 2012-2014, of slowdown in the country's accumulation dynamics in general, particularly in real estate; 2015-2019, of crisis and stagnation in the national economy, with severe effects on real estate. Thus, we seek to synthesize through periodization a series of analyses that are dispersed in the literature.